Netherlands Ranks 4th in EU for Material Wealth (Again!)

The Netherlands secured its spot as the fourth most economically prosperous country in the European Union in 2024, based on gross domestic product (GDP) per resident. This marks a consistent performance, as the country also held the fourth position last year, according to data from Statistics Netherlands (CBS) and Eurostat.

A Peek at the Numbers

With a GDP per capita of €63,000, the Netherlands outperforms most of the EU, clocking in at over 1.5 times higher than the EU average (€39,700). Talk about setting the bar high! But the Dutch aren’t top dog yet—that title belongs to Luxembourg, with an eye-popping €126,900 GDP per capita. Of course, Luxembourg’s figure is largely buoyed by its financial institutions and its unique situation where many employees work in the country but live elsewhere.

Tailing Luxembourg are Ireland (€99,100)—thanks to its foreign multinationals boosting the economy—and Denmark (€66,400), which just barely edged out the Netherlands for third place. Meanwhile, at the other end of the spectrum, Bulgaria rounds out the list with a GDP per capita of €16,100.

Read Also: Amsterdam Rises in 2024 Quality of Living City Ranking

Economic Growth That Outpaced Population Growth

Good news for the Dutch economy! The Netherlands GDP per capita grew by 0.3% last year after adjusting for price changes. This wealth growth stems from a stronger economy that outpaced population growth, cementing the Netherlands as an economic heavyweight. Across the EU, GDP per capita grew slightly faster, increasing by 0.8%.

A Different Measure of Wealth

When it comes to measuring material prosperity, GDP per capita isn’t the only game in town. Another crucial metric is “actual individual consumption per inhabitant,” which takes into account households’ spending and the consumption provided by nonprofits, households, and the government. This number also accounts for differences in government services, like healthcare systems, across countries.

On this front, the Netherlands punches even higher. With a score of €32,000 last year, the country sits comfortably in second place across the EU, solidifying its status in the European Union. Luxembourg once again tops the charts, while the EU average trails behind at €26,000.

Why It Matters

Whether you’re planning your next investment, curious about economic trends, or just looking to brag a little about the Dutch economy, this data shows that the Netherlands is thriving in the European economic landscape. With steady growth and a rock-solid position in the top tier of EU material prosperity, the country clearly knows how to keep its financial health in check.

Think the Dutch are satisfied sitting in fourth place? Based on their track record of growth, don’t rule out a climb in the rankings just yet.